Yum Brands to Fund One-Time Bonuses for Restaurant Managers

By Micah Maidenberg

Yum Brands Inc. will pay one-time bonuses to the general managers who run its restaurants, the latest example of a company providing additional pay for workers as the coronavirus damages the economy.

The owner of KFC, Pizza Hut, Taco Bell and the Habit Burger Grill brands said in a filing Monday that close to 1,200 managers at its restaurants will receive one-time bonuses of $1,000 "to acknowledge their efforts managing teams" and provide business continuity amid the pandemic.

Other companies have said they would pay bonuses to staffers who are still working, such as CVS Health Corp., which last week said it would send pharmacists and other workers bonus payments of up to $500. Retail chain Ulta Beauty Inc. said earlier Monday it would increase pay for distribution employees by $2 per hour.

Yum Chief Executive David Gibbs will forgo his salary for the rest of the year, the company said, a move that will help pay for the bonuses to general managers and for a medical fund, the company said.

The employee medical relief fund is associated with a Yum Brands foundation. It will provide grants, including to company and franchise employees with a Covid-19 diagnosis or those who are caring for someone with a diagnosis, the company said.

Covid-19 is the name of the illness caused by the new coronavirus.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

March 30, 2020 09:10 ET (13:10 GMT)

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